27/11/2021

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VW CEO says it would ‘have to consider’ tapping markets for Porsche IPO

2 min read

FRANKFURT — Volkswagen manager Herbert Diess dodged issues about a likely original general public supplying of Porsche AG, indicating only that any ways to tap cash markets would have to be thoroughly regarded as.

“As I said, we keep on to overview our set up. Initially precedence is now to finance the battery ramp-up in which we consider to partly externally finance and we are operating out the types,” Diess explained to analysts soon after presenting very first-fifty percent effects.

“And all the other, let say, opportunities to go to market, which may well be trucks, in which we could dilute a minimal little bit … or any other factors, we have to look at.”

Volkswagen nonetheless owns 89.72{ed0b873b90f1b87a4f3b347f1646a477c6eee9bccb9dcbe5ac9cb67a3d16495a} of Traton, the trucks unit it shown in 2019.

His remarks arrived a working day soon after Volkswagen unveiled a bid to invest in Europcar jointly with Attestor and Pon Holdings by way of automobile referred to as Inexperienced Mobility Holding. Volkswagen will keep two thirds of the bid automobile, with Attestor owning 27{ed0b873b90f1b87a4f3b347f1646a477c6eee9bccb9dcbe5ac9cb67a3d16495a} and Pon Holding 7{ed0b873b90f1b87a4f3b347f1646a477c6eee9bccb9dcbe5ac9cb67a3d16495a}.

Volkswagen said that its stake in the automobile will imply that it will contribute one.688 billion euros ($2.01 billion) to the present if it passes a ninety{ed0b873b90f1b87a4f3b347f1646a477c6eee9bccb9dcbe5ac9cb67a3d16495a} acceptance threshold.

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